Quote of the Day

"Long tails drive everything. They dominate business, investing, sports, politics, products, careers, everything. Rule of thumb: Anything that is huge, profitable, famous, or influential is the result of a tail event."

(Morgan Housel)

Chart of the Day

The YTD 60/40 portfolio returns are historically bad, but not as bad as they were through June. (via @charliebilello)